Shreyaa Kapoor Instagram – You pay ~40,000 in taxes if you make 9,00,000. 🫠
But you can pay absolutely nothing!🤌🏼
If your annual income is Rs 9 lakh, then there is no other way, for salaried employees, to save taxes than by claiming a standard deduction of Rs 50,000 under the new tax regime. 🙏🏼
But with the old tax regime you can bing down your tax liability down to 0!🫶🏼
Here is how:
-Standard deduction (50,000)
-80C deduction (1,50,000)
-80CCD deduction (50,000)
-80D deduction (50,000) – 25k for self and 25k for parents
-HRA deduction (1,00,000)
But here are some other options you can opt for if any of the above options don’t apply to you!👇🏼
-Section 24(B): home loan interest deduction
-Section 80G: donation to exempt institution
-Section 80E: Education loan deduction
Save this so that comes in handy when you do file your taxes and share this with your friends making 9 lacs, more or less! 🎉
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[tax tips, salary, tax, tax saving, personal finance, finance tips, tax season, money saving, tax season] | Posted on 30/Jan/2024 20:00:07
